Economic security

Hedge Fund Billionaire Soros: Russian Reserves Enough to Last for Two Years

Soros told Bloomberg TV on Thursday that the Russian reserves would last for "a couple of years."

On Wednesday, Russia’s central bank estimated that Russia expanded its reserves of monetary gold by 208.4 metric tons to 1,415 tons in 2015, up more than 17 percent from the year before.

The value of Russia’s gold reserves rose by 5.37 percent to almost $48.6 billion, from the $46 billion in January 2015. The share of monetary gold in its foreign currency reserves rose to 13.18 percent from 11.96 percent.